Ecopetrol Losses to Theft and Smuggling in 2010

Ecopetrol, Colombia’s largest petroleum company, reported losses of $11 Million due to oil theft and smuggling in 2010. An average of 369 barrels of oil was stolen from the company’s pipes every day in 2010. The amount of stolen oil increased by 95 percent from 2009.

Source: Travis Mannon, “Ecopetrol lost $11M in 2010 through oil theft,” Colombia Reports, September 27, 2011.